Economics GCSE
Economic efficiency
What Economic efficiency means in Economics GCSE, as defined for AQA.
Definition of Economic efficiency
Check what you remember
Read the wording for your board, then hide it and explain Economic efficiency in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
What the market system fails to achieve when it cannot allocate resources efficiently.
Topics that use Economic efficiency
- Misallocation of resources (AQA GCSE)
Related terms
- Economic welfare
- Externalities
- Indirect taxes
- Market failure
- Price mechanism
- Resource allocation
- Social welfare
- State provision
Using Economic efficiency in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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